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- GaiaWorks
GaiaWorks Revenue, Valuation, Funding & Investors
GaiaWorks is valued at $371M as of February 2017, a 21.8x multiple on its last reported $17M revenue.
Last GaiaWorks valuation
$371M
Series B · Feb 2017
Last GaiaWorks funding round
$77M
Series D · Dec 2020
GaiaWorks revenue
$17M
Series B · Feb 2017
Key investors in GaiaWorks
Matrix Partners China
Warburg Pincus
Tiger Global
Tencent
GGV Capital
EDBI
About GaiaWorks
GaiaWorks is a developer of workforce management software headquartered in the Philippines. Its platform combines time clocks, shift scheduling, and labor forecasting for retail and hospitality businesses. GaiaWorks integrates with payroll systems like ADP and supports multi-site operations in Southeast Asia with mobile apps for employee self-service.
Founded
2009
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$17M (Feb 2017)
Valuation
$371M (Feb 2017)
GaiaWorks Valuation
GaiaWorks is currently valued at $371M, based on its Series B in February 2017.
GaiaWorks valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2017 | Series B | $371M | 21.8x |
GaiaWorks Revenue
GaiaWorks' latest recorded revenue is $17M, as of its Series B in February 2017. At a $371M valuation, that implies a 21.8x revenue multiple.
GaiaWorks revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2017 | $17M | $371M | 21.8x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
GaiaWorks Funding History
GaiaWorks has raised a total of $147M across 4 funding rounds.
GaiaWorks' first fundraising round was a $7M Series B in February 2017. The most recent completed round was a $77M Series D in December 2020.
GaiaWorks funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2020 | Series D | GGV Capital (lead); Matrix Partners China; Index Capital; Tencent; EDBI | $77M | - | GaiaWorks, founded in 2009 and headquartered in Suzhou, China, is a leading provider of workforce management cloud services, serving over 1,500 enterprise customers and 5 million frontline workers across 24 countries in Asia-Pacific, Europe, and North America. The company helps clients control labor costs, enhance workforce efficiency, reduce compliance risks, and improve employee engagement. On December 8, 2020, GaiaWorks closed a Series D1 funding round of RMB 500 million (approximately $76.5 million USD), led by GGV Capital with participation from Tencent, EDBI, Index Capital, and existing investor Matrix Partners China. The funding reflects strong investor confidence in GaiaWorks' market leadership in China and the Asia-Pacific region for workforce management SaaS, with top-tier clients driving complex needs met by its products, technology, and services. GGV Capital's managing partner Eric Xu highlighted GaiaWorks as an excellent innovative SaaS company poised for faster growth and global expansion into a Chinese global leader. Prior investors include Tiger Global Management and Warburg Pincus, with total funding across five rounds reaching $148.27 million USD by that point. GaiaWorks operates in a competitive landscape alongside global players like Gusto, Paycor, ADP, Paychex, and TriNet. The Series D1 round supports strategic expansion, product development, and market penetration, building on its established reputation. |
| Jan 2019 | Series C | Tiger Global (lead); Matrix Partners China; Warburg Pincus | $44M | - | GaiaWorks is a Chinese workforce cloud management software company founded in 2009 and headquartered in Suzhou, providing solutions for real-time HR management, electronic contracts, intelligent scheduling, complex attendance, flexible staffing, lean work hours, sales commissions, payroll settlement, employee self-service, and analytics to control labor costs and improve efficiency. Investors include GGV Capital, Tencent, Tiger Global Management, Warburg Pincus, Matrix Partners, and EDBI, with contact at 4006296868 and website www.gaiaworks.cn. |
| Aug 2017 | Series B | Warburg Pincus (lead); Matrix Partners China | $19M | - | GaiaWorks is a Suzhou-based workforce management (WFM) software provider founded in 2009 by Zhang Xinbo, a former employee of BenQ and Kronos who brought deep expertise in workforce scheduling. The company developed cloud-based intelligent scheduling applications that use prediction algorithms analyzing historical business and operational data to help enterprises reduce labor costs, ensure regulatory compliance, and gain workforce insights. In August 2017, GaiaWorks raised $19 million (RMB 130 million) in a Series B+ funding round led by Warburg Pincus, with participation from Matrix Partners China and Genesis Capital Hong Kong. Prior to this round, the company had secured a total of $30 million across Series A and Series B funding in 2016 and earlier in 2017. The company competed in the competitive HR SaaS market alongside global players like Kronos and local competitors, serving labor-intensive industries across China. In May 2018, GaiaWorks acquired Yiqin Software, an attendance management platform serving 1.5 million employees across over 400 Chinese enterprises, expanding its market presence and capabilities. |
| Feb 2017 | Series B | - | $7M | $371M | GaiaWorks is a Chinese company founded in 2009 and based in Suzhou that develops optical circuit switching technology for software-defined networks and data centers. The technology supports service providers, cloud computing, content delivery, and government networks to handle content explosion in diverse markets. In August 2017, GaiaWorks raised funding at a $371.25 million pre-money valuation led by Warburg Pincus in a Series B round. The company has raised a total of approximately $148 million across five funding rounds from investors including Tencent, Warburg Pincus, and GGV Capital. GaiaWorks competes with companies like Gusto, Paycor, ADP, Paychex, and TriNet in the HR and payroll technology space. |
Who has invested in GaiaWorks?
7 investors have backed GaiaWorks across its funding rounds, including Matrix Partners China, Warburg Pincus, Tiger Global, Tencent, GGV Capital and EDBI.
Lead investors include GGV Capital, Tiger Global and Warburg Pincus.
GaiaWorks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Aug 2017 | ||
| 2 | Lead | Aug 2017 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Lead | Jan 2019 | ||
This data is available for Pro users. Sign up to see all 7 GaiaWorks investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by GaiaWorks
GaiaWorks has acquired 1 company to date.
Last acquisition by GaiaWorks was on May 15th 2018. GaiaWorks acquired Yi Qinyun for $8M.
Latest Acquisitions by GaiaWorks
| Description | Yi Qinyun is a China-based specialist in labor attendance systems and workforce time-tracking solutions, accessible via kaoqinji.com for enterprise deployment. |
| HQ Country | |
| HQ City | Beijing |
| Deal Date | 15 May 2018 |
| Valuation | $8M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all GaiaWorks acquisitions and their M&A valuation multiples. Start Free Trial | |
GaiaWorks Competitors
GaiaWorks competitors include listed companies like Teamshares and Asure Software, and private ones like flex, Workleap, Gloat and Multiplier.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $366M | - | ||
| Private | $100M | - | $365M | 3.6x | ||
| Private | - | - | $400M | - | ||
| Private | - | - | $400M | - | ||
| Publicly listed | $472M | ($23M) | $545M | 1.4x | ||
| Publicly listed | $141M | $20M | $245M | 1.9x |
GaiaWorks Public Comps
GaiaWorks is still privately-owned, but its public comps include Nordtech Group, AdvancedAdvT, Beisen Holding, Zaggle Prepaid Ocean, Asure Software, DHI Group, Teamshares, TON Strategy, ReadyTech and Freee.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $72M | $13M | 2.5x | 2.4x | 14.1x | 8.9x | |||
| $165M | $2M | 0.3x | 0.3x | 22.3x | 5.2x | |||
| $199M | $20M | 1.0x | 1.0x | 10.4x | 10.7x | |||
| $141M | $20M | 2.1x | 1.9x | 15.2x | 8.0x | |||
| $128M | $2M | 2.0x | 2.0x | 108.0x | 7.8x | |||
| $472M | ($23M) | 1.7x | 1.4x | (35.0x) | 33.2x | |||
| $13M | ($148M) | 11.0x | 11.0x | (1.0x) | - | |||
This data is available for Pro users. Sign up to see all GaiaWorks competitors and their valuation data. Start Free Trial | ||||||||
Common questions about GaiaWorks
| When was GaiaWorks founded? | GaiaWorks was founded in 2009. |
| Where is GaiaWorks headquartered? | GaiaWorks is headquartered in Suzhou, China. |
| Is GaiaWorks publicly listed? | No, GaiaWorks is a private, VC-backed company. |
| What is GaiaWorks' valuation? | GaiaWorks was last valued at $371M in its Series B in February 2017. |
| How much funding has GaiaWorks raised? | GaiaWorks has raised $147M across 4 funding rounds. |
| What was GaiaWorks' last funding round? | GaiaWorks' last funding round was a $77M Series D in December 2020, led by GGV Capital. |
| Who are GaiaWorks' investors? | GaiaWorks' investors include Matrix Partners China, Warburg Pincus, Index Capital, Tencent, Tiger Global, EDBI and GGV Capital. |
| What is GaiaWorks' revenue? | GaiaWorks' latest recorded revenue is $17M (February 2017). |
| What is GaiaWorks' revenue multiple? | GaiaWorks' latest valuation implies a 21.8x revenue multiple ($371M valuation on $17M of revenue). |
| Which companies are comparable to GaiaWorks? | Companies comparable to GaiaWorks include flex, Workleap, Gloat, Multiplier, Teamshares and Asure Software. |
| How many companies has GaiaWorks acquired? | GaiaWorks has acquired 1 company, including Yi Qinyun. |
| What was the largest acquisition by GaiaWorks? | The $8M acquisition of Yi Qinyun in May 2018 is the largest acquisition GaiaWorks has made to date. |
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